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Crash Course For Bernanke

Posted on January 28, 2008

I am reading an interesting article from October 2000 called A Crash Course for Central Bankers. The following excerpt seems strikingly pertinent.There s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat.History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side e...

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